All Forum Posts by: Jeremy Hunter

I am not a regiatered agent, but the advice i have been given by my associates that are is to get if they are not matching then you have the option to roll it over to an account or company that has a good track record of consistent returns. Or a self direct IRA management company which is a good way to get your funds into real estate.

I am curious to know if anyone might know how many properties are listed at one time. I am pretty sure that there is more being offered off market than on but I am curious if there is anyone that might know if there is any way to know.

I would also say network with some lenders, or loan brokers to understand what needs to come to the table for your ideal situation to get the pre-approval and funding.  There are many different types of folks here you can reach out to establish relationships with.  There are also Facebook groups and local REIAs that you can go to. I have also found LinkedIn as another way to find groups to find other like minded folks to connect with.  Many of the professionals here are also investors and are open minded about deals that fit what they do.  

It just takes a friend request and followed up with getting on the phone and then you are on a roll with finding other like minded folks who want to do what you want to do. Plus you may find that one or multiple strategies may fit your investing profile when talking with folks.

I look forward to networking with you! 

You would structure it so they can get an equivalent share of the deal of what they put in. If you both put in the same amount it is a 50/50 split. And if they brought in more then so on and so so that they get the types if returns you work out. I would say to talk with a legal professional about the right way to write up the operating agreement as you take on one or multiple silent partners. 

Creative financially is my first suggestion. It is something that I feel strongly about. From seller financing to lease option. 

I like what was said about using community banks and credit unions that have investor loan options. Definitely a good leveraging tool. I would also line up that line of credit both personal and business because they can be a huge tool. 

I think that another thing that hasn't been mentioned are partners and cosigners. Partnerships are a great thing becasue you can leverage their money and experience.  You could do different partnerships for different projects. And with cosigners a similar track if you are a bit short or a bit tied up with your other projects.

And putting the loan under your business entity that way you can do more deals. 

Good job on getting your deal funded! I would say that the numbers you did right before you got the loan should be your peace of mind. Believe in your numbers and know your deal. Is the exit strategy solid? A small piece of advice put it back on the market with pictures of what the end Is going to look like to start generating interest and possible offers so that way it can be sold once the rehab is done. I am not familiar with your market but it is one way to beat the odds of having to hold it too long and building up the extra interest with the hard money loan. And as another back up you could refi out of it to hold and I could help you with that if you bank doesn't have options for you!  

Welcome Jeffery! Keep steady on the goal and keep up with the learning and networking! This is definitely a good place for it! There are solid strategies out there for acquiring properties especially multifamily. Keep in mind the saying keep it simple stupid because I know I can make overly complicated when I look at multifamily / unit deals. And remember that when seeking the debt portion to leverage for your acquisitions get your ducks in a row for whatever type of lender you go to. Common sense right! Unfortunately not so but I thought I should give you the gentle reminder. First deal can be a challenge! Looking forward to hearing from you!

Hey Martin,

Welcome to BP first off. It is a great place to really network and find folks you need for your team - professionals and jv partners - I want to address the last bit as I work for a loan brokering company. There are all sorts of folks that do lending in the private space from institutions to individuals, the more experienced they are they are going to ask the hard questions about the deals you are bringing to them. Like your experience, experience of anyone else you have in the deal and timeline for their expected return. They are going to ask for a plan and bpo's, contract (if available), liquidity or cash you are bringing to the deal, anything you might haave to put up for collateral and a few other things depending on the lender. So when bringing a deal to anyone coming off prepared will get the ball rolling faster. Rates and terms are going to vary with the institutions as well.

Joint venture or partnerships is the terms come to mind with your second point. And it should depend in what kind of equity and experience they bring to the deal and how the operating agreements are written up as to what to pay out to them. I would say consult a legal person to help you with this but it always seems to me that if it is a rental you split the monthly profit. Some folks might even be open to quarterly payouts. Keep it simple. If it is flip they would see their return at the close of the flip. Hire a bookkeeper/accountant (if you haven't already) to keep it in order. And you would have had put into the budget money to be set aside for maintenance and other expenses that would be expected by any partner you bring on. 

I hope that my answer has given you some things to consider and left enough for other to jump in with their thoughts and experience.

I would be open to being that resource in the private lending space for you reach out and lets connect offline! 

Welcome! I look forward to networking with you!

Aloha! Welcome to BP!  Looks like you have some good ideas and a start to do some things you want to do in real estate. There are many ways to connect with other investors here and off line.  The hard part is just getting a good solid start! 

Remember there are so many ways to find leverage and use funding both private and debt to help you get into properties and do the types of projects that you want to be in.  There is so much to learn but action is also a big part of it.  I continue to learn that everyday when talking with folks doing their first deal or their x number deal.   

Looking forward to networking with you! 

P's.  I used to live on Oahu being stationed there with the military!  I really miss living there!